🥇 First rule of investing? Know when to save! Up to 55% off InvestingPro before BLACK FRIDAYCLAIM SALE

UPDATE 2-FTSE 100 closes lower on weak oil majors; Midcaps boosted by G4S

Published 09/14/2020, 04:39 PM
Updated 09/15/2020, 12:20 AM
© Reuters.
UK100
-
AZN
-
STEMS
-
FTMC
-
FTNMX502010
-
FTNMX501010
-
FTNMX403010
-
9984
-

* No-deal Brexit fears cap gains
* All eyes on BoE meeting on Thursday
* BP drops after it forecasts weak crude demand
* Security firm G4S marks best day ever

(Adds details, comment, updates to close)
By Shashank Nayar and Ambar Warrick
Sept 14 (Reuters) - London's blue-chip index fell on Monday
as the prospect of waning demand weighed on heavyweight energy
stocks, while security firm G4S propped up the midcap index
after it rejected a takeover from Canadia's GardaWorld.
The blue-chip FTSE 100 .FTSE shed 0.1%, with oil and gas
major BP BP.L weighing the most after it forecast declining
fossil fuel demand due to climate policies and the coronavirus
epidemic. Oil prices were steady. O/R The mid-cap index .FTMC added 0.7%, with G4S GFS.L
surging to a near seven-month high after it rejected a 2.95
billion pound ($3.8 billion) offer from Canadian security firm
GardaWorld, saying it was "highly opportunistic". Divorce talks between the United Kingdom and the European
Union continued to be at the forefront, with the bloc ramping up
pressure on Prime Minister Boris Johnson to step back from
breaking the Brexit divorce treaty. "Brexit is back with a bang, and there's a growing risk that
the transition period will end with no trade agreement in place
between the UK and the EU," ING economists wrote in a note.
Markets are also awaiting Thursday's Bank of England policy
meeting, where it is likely to signal more stimulus to lift the
economy out of a deep recession that could be exacerbated by a
messy Brexit. While steady stimulus has helped the FTSE 100 bounce from
its coronavirus lows earlier this year, surging cases and
middling economic data have seen the index stall in recent
months, with new Brexit fears also expected to weigh in the
near-term.
Drugmaker AstraZeneca AZN.L fell slightly, despite
resuming British clinical trials of its COVID-19 vaccine, which
is one of the most advanced in development. British recruiting firm SThree Plc STEMS.L rose 1.4% as it
said its underlying sequential performance had been improving
since the first half of the year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.